ACV Auctions (NASDAQ:ACVA) Rating Reiterated by JMP Securities

ACV Auctions (NASDAQ:ACVA - Get Free Report)'s stock had its "market outperform" rating reissued by research analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $19.00 price objective on the stock. JMP Securities' price objective points to a potential upside of 6.74% from the company's previous close.

A number of other research analysts have also recently issued reports on ACVA. Northcoast Research raised ACV Auctions from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, January 10th. Needham & Company LLC reiterated a "buy" rating and set a $23.00 target price on shares of ACV Auctions in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.21.

ACV Auctions Price Performance

Shares of NASDAQ:ACVA traded up $0.51 on Wednesday, hitting $17.80. The stock had a trading volume of 1,053,162 shares, compared to its average volume of 1,219,393. The firm's 50 day moving average price is $17.20 and its 200-day moving average price is $15.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.12 and a current ratio of 2.12. ACV Auctions has a twelve month low of $11.58 and a twelve month high of $19.54. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -38.59 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The firm had revenue of $118.38 million for the quarter, compared to analyst estimates of $117.62 million. On average, equities research analysts predict that ACV Auctions will post -0.29 earnings per share for the current year.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $14.07, for a total value of $457,275.00. Following the transaction, the chief financial officer now owns 305,579 shares of the company's stock, valued at $4,299,496.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total value of $457,275.00. Following the completion of the sale, the chief financial officer now owns 305,579 shares of the company's stock, valued at $4,299,496.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vikas Mehta sold 200,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the sale, the chief operating officer now owns 319,036 shares in the company, valued at $5,257,713.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,507,708 shares of company stock worth $27,126,374. Insiders own 13.67% of the company's stock.

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of ACV Auctions by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,809,266 shares of the company's stock valued at $194,445,000 after purchasing an additional 1,010,941 shares during the period. Loomis Sayles & Co. L P bought a new stake in ACV Auctions in the 3rd quarter valued at $32,611,000. Deepwater Asset Management LLC boosted its stake in ACV Auctions by 20.1% in the 4th quarter. Deepwater Asset Management LLC now owns 851,819 shares of the company's stock worth $12,905,000 after purchasing an additional 142,296 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in ACV Auctions by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,705,720 shares of the company's stock worth $25,893,000 after purchasing an additional 134,587 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of ACV Auctions by 8.7% in the 3rd quarter. William Blair Investment Management LLC now owns 4,369,867 shares of the company's stock valued at $66,335,000 after purchasing an additional 350,865 shares during the period. 88.55% of the stock is currently owned by institutional investors.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.